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ABOUT THE IIRE

- in solidarity with progressive forces around the world

The International Institute for Research and Education (IIRE) provides activists and scholars worldwide with opportunities for research and education in three locations: Amsterdam, Islamabad and Manila. Read more

The current economic crisis shows once again that economical and political developments don't end at national borders. Some politicians draw the conclusion that the European Union should play a greater role in handling crises like this one. However, according to critics the EU itself is part of the problem because it propagates the same kind of neoliberal policies that were a factor in causing this crisis. What would a left-wing, Europe-wide approach to the crisis look like?

As he assesses the international crisis and the proposals made by the Left to meet a fast deteriorating global situation, Eric Toussaint distinguishes between two very different kinds of Left that suggest different ways of of resolving the interconnected crises of capitalism.

It is true that banks are less leveraged, but the outflow of capital is intensifying. Internationalized industry is hit by global overproduction, and lower prices of raw materials depress growth. Moreover, attempts at stimulation collide with reduced resources from the central economies.